Realtor.com Sees 61.9% Q4 2025 Home Views from Out-of-Market Buyers
Realtor.com recorded 61.9% of Q4 2025 home search views from out-of-market buyers, up from 48.6% in Q4 2019, with 87 of the 100 largest U.S. metros now driven by non-local demand. Cape Coral–Fort Myers led at 82.5% out-of-market traffic while San Francisco saw a 25.4% surge in external interest.
1. Surge in Out-of-Market Home Searches
Realtor.com data show that out-of-market shoppers accounted for 61.9% of home search views in Q4 2025, compared to 48.6% in Q4 2019. This structural shift means 87 of the 100 largest U.S. metros now receive most of their demand from non-local buyers.
2. Sun Belt Metros Dominate
Affordable, lifestyle-driven markets in the Sun Belt led the rankings, with Cape Coral–Fort Myers at 82.5% non-local traffic, Lakeland–Winter Haven at 79.8%, and Durham–Chapel Hill at 78.2%. These areas attract retirees and investors seeking lower prices than major coastal cities.
3. AI-Driven Interest Fuels Tech Hubs
Thirty-nine former local-dominated tech metros flipped to majority out-of-market demand, driven by AI and data center expansions. San Francisco topped the list with a 25.4% increase in external interest, followed by Philadelphia and Pittsburgh benefiting from cloud and data infrastructure investments.